Huffington Post: Will Domestic Politics in the US and Russia Shape European Gas Markets?

By Dr. Shamil Yenikeyeff

The North American shale gas revolution has led the gas independence of the United States and forced liquefied natural gas (LNG) cargos to move elsewhere. The US success has had a serious impact on commercial drivers and consumer-producer relations in traditional markets and in Europe, in particular. It has forced countries to start exploring new ways of following the American "shale gas" footsteps.

The new abundance has undermined the oil-linked gas price formula used by Gazprom in its long-term contracts. The US could further change the global energy game if it opts to export its gas or use more gas instead of oil. This could lead to an increase in oil exports from North America which could also cause shock-waves in the global oil market.  MORE